Trident Microsystems, Inc. Common Stock Expected to Trade on OTC Markets Beginning Jan. 19, 2012
January 18 2012 - 5:50PM
Trident Microsystems, Inc. ("Trident" or "the Company") announced
today that it anticipates that its common stock will begin trading
under the symbol "TRIDQ" on the OTCQB marketplace, operated by OTC
Markets Group, on Thursday, Jan. 19, 2012. More information,
including Real-Time Level 2 quotes, is expected to be available at
otcmarkets.com.
As previously announced, NASDAQ has advised Trident that its
common stock, traded under the symbol TRID, will be suspended from
trading on NASDAQ prior to the opening of the market on Thursday,
Jan. 19, 2012. NASDAQ advised Trident that it is taking these steps
due to Trident's Chapter 11 bankruptcy filing, and Trident had
previously been notified of a potential delisting due to its stock
price trading under $1.00.
Due to Trident's Chapter 11 filing, Trident did not oppose the
suspension and delisting of its securities. Trident cannot
predict the ultimate value of its common stock and it remains too
early to determine whether holders of common stock will receive any
distribution in the Chapter 11 reorganization. The Company
noted that in most Chapter 11 cases holders of equity securities
receive little or no recovery of value from their investment. As a
result, Trident urges investors to exercise appropriate caution
with respect to any existing or future investments in Trident's
securities.
Additional information on the Company's Chapter 11 filing can be
found at the Claims Agent's website at www.kccllc.net/trident.
Forward-Looking Information
This press release contains forward-looking statements,
including statements regarding the market and symbol under which
Trident's common stock may trade, which are matters that are not
within Trident's control and are subject to change based upon
various facts and circumstances. The forward-looking statements
also include statements regarding the potential value of Trident's
equity securities, which is subject to certain risks and
uncertainties, and actual results could vary materially depending
on a number of factors. These risks include, in particular, the
ability to conclude the transaction with Entropic or alternative
transactions in a timely manner and on satisfactory terms and the
nature and amount of offers Trident may receive, if any, for other
assets. Additional factors that may affect Trident's business
are described in detail in Trident's filings with the Securities
and Exchange Commission available at http://www.sec.gov.
CONTACT: Trident Microsystems, Inc.
www.kccllc.net/trident